All That Glitters May Not Be Golden


Glenn Beck has been hocking “goldline” for months. The end is near.  People need to invest in gold.  Libertarians like Beck, and Ron Paul have been promoting gold – and the gold standard, for ages.  Ron Paul is heavily invested in gold.

It turns out that some gold is just plain old brick painted with gold.  It was a scam called gold-bricking.  The con artist would paint a brick gold, and sell it as a bar of gold.  Looks like what Beck was doing wasn’t far from that old tale.

“…The company, which used radio talk show host Glenn Beck as a pitchman, has seen sales soar in recent years along with the price of gold. In one ad campaign, Beck said Goldline was “a top-notch organization” and in another said it was the “only gold company I recommend and use.”

Beck did not respond to an email seeking comment for this story.

The 19-count criminal complaint accused Goldline Chief Executive Scott Carter and five other current and former employees of promoting coins as a better investment than bullion without disclosing the markup.

Goldline, which had more than $500 million in annual sales, denied wrongdoing and vowed to fight the charges. Founded in 1960, the company employs more than 300 people.

“The so-called bait-and-switch allegation is preposterous because bullion accounts for more than 40% of the ounces of gold sold by the company during the past year,” Brian Crumbaker, the company’s executive vice president, said in a statement….”

Mother Jones

Beck wasn’t the only pitchman for Goldline.  Any number of conservatives promotedit:  Sean Hannity, Laura Ingraham, Mark Levin, Mike Huckabee, Fred Thompson, and any number of FOX personalities.

The Week